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- What is Status? What benefits does it provide to users?
- Why was the Status project created? What problem is he solving?
- Who are the founders of the Status project?
- What is a SNT token?
- Main functions Status and SNT
- What is Status Teller Network?
- What is Status dApp Directory?
- On which exchanges is SNT listed?
- Which wallet to choose for SNT?
- Cryptocurrency exchanges for SNT
- Cryptocurrency wallets for SNT
What is Status? What benefits does it provide to users?
Status is both an open source communication platform and a mobile interface. Its main advantage is that it allows users to interact with decentralized applications running on the Ethereum blockchain. It can be said that it works like the Play Store for Android, with one exception. Well, Status is completely based on peer-to-peer (P2P) technology.
This interface allows users to send and receive encrypted P2P messages as well as interact with a large number of Ethereum-based decentralized applications. It can also be used to make payments and enter into smart contracts, and it offers a wallet for storing cryptocurrencies.
Anyone with internet access can use the Status app to trade freely, make P2P payments, and encrypt communications. Moreover, this platform uses the Whisper V5 protocol to delegate nodes and handle decentralized chat. You could say Status is a community driven app.
Why was the Status project created? What problem is he solving?
The primary goal of the Status developers has been to massively accelerate the adoption of decentralized Ethereum-based applications. This, in turn, can be achieved by targeting the rapidly growing segment of smartphone users. Using dApps should be easy and intuitive.
Older social networks take advantage of users by delivering them a huge amount of advertising. Only advertisers and platform owners benefit. Status aims to empower the user. People using this platform can exercise full control over their data and become important entities involved in managing the platform.
Who are the founders of the Status project?
The creators of Status are Jarrad Hope and Carl Bennets. Before starting this project, they worked together on other programs for 6 years. Nabil Naghdy is the operational director. Before joining Status, he managed Google Maps and Google Flights for 7 years.
The entire Status team consists of over 70 full-time members and experienced advisers. Much of them are programmers focusing on basic development and creating decentralized applications. Others are responsible for daily operations, marketing and business development.
What is a SNT token?
SNT acts as a tool token belonging to the Status platform. It was built in the ERC-20 standard on the Ethereum blockchain. Although users can use Status for free, they need SNT to purchase a premium feature that allows them to vote for platform management issues, book usernames, receive credentials badges, and the ability to create and join groups, among other things public and other additional functions.
|Cryptocurrency type||token ERC-20|
|Maximum supply||6 804 870 174|
|Coins in circulation||3 470 483 788 SNT|
The ICO of the Status project was conducted on June 20, 2017. Moreover, it only lasted one day. Investors could receive 10,000 SNT tokens for 1 ETH. The project raised a total of $ 99 million.
The funds from the ICO have been split in the following proportions:
- 50% for project development
- 15% for security issues
- 15% financing for daily activities
- 10% marketing
- 10% legal and accounting costs
Main functions Status and SNT
While Status's primary purpose is to interact with decentralized applications on the Ethereum network, it also acts as a messaging platform and 3.0 web browser.
This project offers users:
- decentralized market of push notifications - unlike traditional networks, Status does not generate income from the sale of customer data and advertising. Instead, it creates a special market for push notifications targeting service providers. If you choose to receive such notifications, you must make an SNT deposit with the provider.
- voting via the Status platform - as we mentioned above, Status is a community driven app. Platform management has been democratized through SNT tokens. The holders of these tool tokens are entitled to vote, propose solutions and make decisions regarding project development.
- receiving Trust Level Badges - Status maintains an online reputation system. It allows you to pay for badges that indicate the user's trust level. This feature allows you to create a Web of Trust database, which, according to the authors of Status, may be useful in the future of the project. For example, users can create public chats where membership is based on an economic token rate or a combination of different tokens.
- username reservation - each Status platform user is automatically identified by the public key, which allows him to communicate without a reserved name. Stakeholders can also reserve usernames. To do this, you need to deposit a certain amount of SNT. If the user wishes to leave the network, he can withdraw his tokens. In this case, someone else will be able to apply for the same name. Obviously, this is an optional feature, in some cases the Status platform may require AML and KYC transition.
- using an economical anti-spam filter - it protects the user from receiving cold messages. The stakeholder sets the minimum amount of SNT that another user must pay to open a conversation. When he receives a reply, the deposit is returned.
What is Status Teller Network?
It is a decentralized application located on the Status platform. It allows users to detect nearby people in order to make transactions (exchange fiat currency for digital assets). To be able to access this feature, the user must pay to SNT.
What is Status dApp Directory?
Similar to the Google Play Store, Status is the gateway to the world of Ethereum-based decentralized applications. This is where developers can exchange their dApps and get exposure. Users can browse the directory to select the services they are interested in. Currently, there are over 30 decentralized applications. The most popular of them are: CryptoKitties, Decentraland, LocalEthereum and Bancor.
On which exchanges is SNT listed?
Cryptocurrency exchanges for SNT
Which wallet to choose for SNT?
Due to the fact that this token was issued in the ERC-20 standard, it can be stored in most Ethereum wallets. Here are some of them!
Cryptocurrency wallets for SNT
|Hardware wallets||Ledger Nano S|
Ledger Nano X
|Desktop wallets||Atomic Wallet|
|Mobile wallets||Atomic Wallet|
Include on your website a calculator Status and chart SNTUSD using the widgets below.
To run a calculator or chart on your site, please:
- Copy the code of the selected widget and paste it into the right place on your website
- You can also configure widgets as needed by modifying the parameters:
- data-crypto="" - enter a list of cryptocurrencies that will be available in the cryptocurrency calculator. Enter the cryptocurrency shortname. You can add many cryptos, e.g. BTC, ETH, TEO. You will find a list of available cryptocurrencies here. To add all cryptocurrencies - leave the tag empty.
- data-fiat="" - enter the list of FIAT currencies that will be available in the cryptocurrency calculator, you can choose multiple currencies by entering e.g. PLN, USD, EUR, GBP. To add all FIAT currencies - leave the field blank.
- Parameters are configurable for the cryptocurrency calculator. In the case of the chart, it is not possible to add many parameters (crypto or fiat).
- To use widgets, you must include a link to your source. The link is included in the above widget codes. The link should not contain the parameter rel = "nofollow".